BATTERY ELECTROLYTE MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Market Concentration and Competitive Landscape

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Another important driver for the battery electrolyte market growth is increasing utilization of lithium-ion batteries in non-automobile applications such as consumer electronics, power tools, and stationary energy storage solutions. Lithium-ion batteries are becoming integral to daily lives through their usage in various portable electronic devices. The continuous expansion of applications is boosting demand for high-performance batteries. With rising integration of renewable energy sources, there is a growing emphasis on energy storage to effectively utilize generated power. Both residential and commercial properties are installing batteries to store solar power or to provide backup during power outages. Battery storage is also playing a critical role in managing electricity demand and supply at a larger utility-scale level. This widespread adoption of energy storage technologies will substantially augment the consumption of battery electrolytes in the coming years. Electrolyte manufacturers are developing novel formulations to meet the varying technical demands from diverse industries. Overall, new application sectors are emerging as important revenue generators for the battery electrolyte market.

• Mitsubishi Chemical Corporation
• BASF SE
• Solvay SA
• LG Chem Ltd.
• UBE Industries Ltd.
• Sumitomo Chemical Co., Ltd.
• Toda Kogyo Corp.
• Shenzhen Capchem Technology Co., Ltd.
• TOMIYAMA Pure Chemical Industries, Ltd.
• Merck KGaA
• Targray Industries Inc.
• 3M Co.
• Advanced Electrolyte Technologies, LLC